President Obama Signs Tax Cut Bill into Law: Dec. 17, 2010 Speech, Video

WASHINGTON, DC - DECEMBER 17:  As he is surrounded by lawmakers and cabinet members, U.S. President Barack Obama signs H.R. 4853 the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 into law December 17, 2010 at the Eisenhower Executive Office Building in Washington, DC. The $858 billion bill will extend the Bush-era tax cuts for two more years and unemployment benefits for 13 months. (Photo by Alex Wong/Getty Images)

President Barack Obama signs the tax cut bill into law on Fri. Dec. 17, 2010; the Middle Class Tax Relief Act of 2010. See video of speech and signing below. The event starts at 3:50 p.m. ET; watch live stream below. Thereafter, check back for full replay video and transcript.

UPDATE: Video and transcript are below.

Article continues below.

YouTube Link

Click here for the transcript of speeches by President Obama and Vice President Biden.

Click the picture above for the full photo gallery.


Live web-feed video above. The event can also be seen via the White House Web site as well as on CNN Live and the White House iPhone app, a free download.

The signing takes place at the White House. The bill represents a bipartisan compromise and passed by a 277-148 vote in the House of Representatives and an 81-19 vote in the Senate. Key components of the tax deal legislation include a two-year extension of the Bush-era tax cuts across all income levels. Additionally, unemployment benefits will be extended for 13 months. It also provides for a 2 percent reduction in payroll tax for a year, and a restoration of estate tax at a lower percentage rate.

The full text of the legislation can be seen here: Middle Class Tax Relief Act of 2010.

Today’s complete itinerary: President Obama official schedule and guidance, Dec. 17, 2010.

A preview video is below. For more on the legislation see:

YouTube Link

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President Obama Signs Tax Cut Bill into Law: Dec. 17, 2010 Speech, Video

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